By IANS,
New Delhi : Public sector banks and financial institutions should adapt to changing technology and sensitise its staff to new methods of possible fraud, Central Bureau of Investigation (CBI) Director A.P. Singh said Friday.
He referred to increasing cases of fraud involving credit aards, ATMs, cell banking and internet banking.
“The banking sector has lost as much as Rs.1,883 crore in 2008-2009 and Rs.2,017 crore in 2009-2010. These include over 200 frauds of above Rs.1 crore during each year,” Singh said.
Singh Friday met 31 chief vigilance officers from banks at the CBI headquarters here and said that the agency’s role was to investigate the criminality in bank frauds.
The CBI does not interfere in cases of prudent commercial judgment, even if such decisions involve risks or have resulted in losses to banks, he said.
He said that banking officials are guiding investigating officers in scrutiny of financial statements, credit appraisals etc., which has enhanced the CBI’s professionalism in detecting bank frauds.
According to the agency, the services of bank officers are being utilised in their various branches such as bank security and fraud cell, economic offences unit and anti-corruption units.
Discussion also took place on issues such as preventive vigilance, e-tendering/e-procurement and forensic auditing.